Samsung's next move: A $22 billion bet on new tech

11 August, 2018, 21:31 | Author: Shawn Conner

Samsung is investing $22bn (£17bn) in "growth areas" including artificial intelligence and 5G over the next three years, the company announced on Wednesday. As transfers the Internet edition of the Chronicle.info with reference to liga.net about it reports Reuters with a reference to the Samsung Electronics.

Samsung Electronics plans to spend a whopping $22 billion over the next three years on artificial intelligence, auto components and other future businesses as the company maps out its strategy under the restored leadership of Vice Chairman Lee Jae-yong after he was freed from prison.

The Group's flagship company, Samsung Electronics, did not provide a breakdown of the figures. Shares in the group's information technology services affiliate Samsung SDS (018260.KS) rose almost 6 percent.

Samsung said in a statement that it will invest 25 trillion won (22 billion US dollars) in promising business areas of artificial intelligence (AI), 5G, automotive electronics components and biopharmaceuticals over the next three years. This will include capital expenditure and R&D costs for semiconductors and display businesses.

Samsung added that 4 trillion won will be spent on seeking shared growth with subcontractors.

In flagging specific areas of investment, the plan is the first of its kind for the conglomerate and suggests more emphasis than usual on expanding into new segments as its core semiconductor and smartphone businesses show signs of weakness.

Samsung is also determined to take a leading position in the 5G next-generation communications standard, where it faces competition from U.S. chipmakers like Intel Corp. "It will continue to invest heavily in the businesses, including developing and manufacturing biosimilars", it said in a statement.

Samsung has been one of the most profitable tech companies on the planet in recent years. Samsung BioLogics, established in 2011, is the world's third-largest contract drug manufacturer.

After being freed from prison early this year, the Samsung heir returned to the management but maintained a low profile mostly staying overseas for business meetings.

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Dramatic images of wounded children, clothes and school bags smeared with blood were aired by the Al Masirah TV, reported AP. The Iran-aligned Houthis regularly fire into Saudi Arabia and have targeted its capital, Riyadh , with ballistic missiles.

Markets also anticipated an announcement from Washington later on Monday on renewed US sanctions against major oil exporter Iran. USA sanctions on Iran's energy sector are set to be re-imposed after a 180-day "wind-down period" ending on November 4.

Julen Lopetegui had been hoping to convince the player into staying at the club, but his efforts appear to have been unsuccessful. With Cristiano Ronaldo having departed to Juventus , the 32-year-old's importance to the team has now become even greater.

But when you are nine days without one minute of training or football, you go back and start with the other people". United seemed intent on only replacing players who left rather than improving on the squad.

Summer signing Fabinho , who converted all 16 penalties he took for Monaco in Ligue 1, dragged the spot-kick wide. Salah's driving run across the box teed the striker up for a shot which found the top corner via a deflection.

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In the 2016/17 campaign, Vietto played for Sevilla and a year ago he played the second half of the season for Valencia . On his side's return to the Premier League , Jokanovic said: 'Our principal objective and target must be to stay up.

Then also with Europe having more time to do deals , it was all so quiet and relaxed. "It was hard for everyone, for us included". Are you anxious about losing Son to the Asian Games? "You need to give your best to the position the manager says".

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That may not be the case anymore, as Newton didn't seem able to say what he wanted when approaching Benjamin in-person. While Benjamin clearly didn't want to talk about the situation, Newton didn't either, literally.

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